In late 2017, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of 4,000,000 shares of common stock carrying a $1 par value, and 1,000,000 shares of $5 par value, noncumulative, nonparticipating preferred stock. On January 2, 2018, 2,000,000 shares of the common stock are issued in exchange for cash at an average price of $10 per share. Also on January 2, all 1,000,000 shares of preferred stock are issued at $20 per share.

On June 30, 2018, the corporation reacquires 160,000 shares for the treasury at a price of $12 per share.

On July 31, 2018, 30,000 treasury shares are reissued at $15 per share.

On September 30, 2018, 30,000 treasury shares are reissued at $10 per share.

Part c requirement three

On October 1, 2018, Nicklaus Corporation receives permission to replace its $1 par value common stock (4,000,000 shares authorized, 2,000,000 shares issued, and 1,900,000 shares outstanding) with a new common stock issue having a $.50 par value. Since the new par value is one-half the amount of the old, this represents a 2-for-1 stock split. That is, the shareholders will receive two shares of the $.50 par stock in exchange for each share of the $1 par stock they own. The $1 par stock will be collected and destroyed by the issuing corporation.

On November 1, 2018, the Nicklaus Corporation declares a $0.10 per share cash dividend on common stock and a $0.27 per share cash dividend on preferred stock. Payment is scheduled for December 1, 2018, to shareholders of record on November 15, 2018.

On December 2, 2018, the Nicklaus Corporation declares a 2% stock dividend payable on December 28, 2018, to shareholders of record on December 14. At the date of declaration, the common stock was selling in the open market at $10 per share. The dividend will result in 76,000 (0.02 3,800,000) additional shares being issued to shareholders.

3. Prepare a statement of shareholders' equity for Nicklaus Corporation for 2018.

Part C On October 1, 2018, Nicklaus Corporation receives permission to replace its $1 par value common stock (4,000,000 shares authorized, 2,000,000 shares issued, and 1,900,000 shares outstanding) with a new common stock issue having a $.50 par value. Since the new par value is one-half the amount of the old, this represents a 2-for-1 stock split. That is the shareholders will receive two shares of the $.50 par stock in exchange for each share of the $1 par stock they own. The $1 par stock will be collected and destroyed by the issuing corporation 50 points On November 1, 2018, the Nicklaus Corporation declares a $0.10 per share cash dividend on common stock and a $0.27 per share cash dividend on preferred stock. Payment is scheduled for December 1, 2018, to shareholders of eBook record on November 15, 2018 On December 2, 2018, the Nicklaus Corporation declares a 2% stock dividend payable on December 28, 2018, to shareholders of record on December 14. At the date of declaration, the common stock was selling in the open market at $10 per share. The dividend will result in 76,000 (0.02 x 3,800,000) additional shares being issued to shareholders Print quired: Reference 3. Prepare a statement of shareholders' equity for Nicklaus Corporation for 2018 Complete this question by entering your answers in the tabs below. Required Required Required Required Required Required Required 1 Part A 2 Part A 1 Part B 2 Part B 1 Part C 2 PartC 3 Part C Prepare a statement of shareholders' equity for Nicklaus Corporation for 2018. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.) NICKLAUS CORPORATION Statement of Shareholders' Equity for the Year Ended Dec. 31, 2018 ($ in 000s) Additional Total Preferred Common Paid-in Retained Treasury Shareholders Stock Stock Capital Earnings Stock Jan. 2, 2018 Issuance of referred stock Issuance of common stock Purchase of treasury stock Sale of treasury stock Net income Common cash dividends Preferred cash dividends Stock dividend December 31 2018 This is a numeric cell, so please enter numbers on NICKLAUS CORPORATION Balance Sheet-Shareholders' Equity Section December 31, 2018 Shareholders' equity Common stock Preferred stock Paid-in capital-excess of par Paid-in capital-share repurchase Retained earnings $2,038,000 5,000,000 30,000 $ 7,068,000 1,200,000 $ 5,868,000 Less: Treasury stock Total shareholders' equity No Date General Journal Debit Credit October 01 No journal entry required 2 November 01 Retained earnings 650,000 Cash dividends payable, common Cash dividends payable, preferred 380,000 270,000 November 15 No journal entry required 4 December 01 Cash dividends payable, common 380,000 Cash dividends payable, preferred 270,000 Cash 650,000 December 02 Retained earnings 760,0000 Common stock dividends distributable 38,000 Paid-in capital-excess of par, common 722,000 6 Common stock dividends distributable 3,000 December 28 Common stock 38,000 NICKLAUS CORPORATION Balance Sheet-Shareholders' Equity Section September 30, 2018 Shareholders' equity Common stock Preferred stock Retained earnings Paid-in capital-excess of par Paid-in capital-share repurchase 2,000,000 5,000,000 1,150,000 33,000,000 30,000 $41,180,000 1,200,000 $39,980,000 Less: Treasury stock Total shareholders' equity Date General Journal Debit Credit Treasury stock 1,920,000 June 30 Cash 1,920,000 2 July 31 Cash 450,000 Treasury stock Paid-in capital-share repurchase 360,000 90,000 September 30 Cash 300,000 Paid-in capital-share repurchase 60,000 Treasury stock 360,000 NICKLAUS CORPORATION Balance Sheet - Shareholders' Equity Sectiorn March 31, 2018 Shareholders' equity Common stock Preferred stock Paid-in capital-excess of par Retained earnings $ 2,000,000 5,000,000 33,000,000 1,350,000 $ 41,350,000 Total shareholders' equity No Date General Journal Debit Credit January 02Cash 20,000,000 2,000,000 18,000,000 Common stock Paid-in capital-excess of par, common 2 January 02 Cash 20,000,000 5,000,000 15,000,000 Preferred stock Paid-in capital-excess of par, preferred